How can data analytics help companies build stronger branding strategies?
Many times data analytics will help you determine who your customers actually are vs. who you think your customers are. Once you know who your customers actually are and what value you bring to them, you can continue to build strategies that continue to build your brand in the best way. I use my personal example of when I first started my career and was doing sales at TBI. I started personally tracking information about my sales and started analyzing the data on my own.
What I found was that I had a high closing ratio when I spoke to customers in the hospitality industry. Part of it was that I was more of a solution seller, meaning that my conversation was around solving problems they had with their network. The other part was that I had built some specific bundles with emerging market products that worked really well within the hospitality industry and had made up some of my own collateral to show how these bundles work and how they help the business to solve their problem. Doing that gave me something extra to go over on our sales calls to build a strong relationship with my customer.
That helped to create an exceptional service experience and left the customer with the perception of TBI as an industry leader, and it all started just by analyzing a little bit of data inside of an Excel spreadsheet. You see how a small amount of data can really snowball into an entire program that generates exponential amounts of revenue.
Let’s look at what I did here. I took the data I had, analyzed it to create consumable information that told me a story. What I found in that story was that I did well in the hospitality industry. Then I built bundles of emerging market products that solved common problems I found within that industry. Finally, we created collateral to review with the customer that shows how those solutions work, how they solve the problems they are having and why it’s the best solution.
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